Moody’s says sharp deterioration in fiscal, external positions underpin Mongolia’s Caa1 rating
Banks’ credit profiles are under pressure,expect continued deterioration in asset quality,liquidity,capitalization in next few months
Expects real GDP growth to average zero this year, before picking up modestly to 1.0% in 2017 and 3.5% in 2018
Success in securing bilateral, multilateral support would stabilize government’s liquidity & economy’s external positions for a period
Expect very large fiscal deficits to remain in 2017 and 2018 Source text for Eikon.